A Flow-of-Funds Perspective on the Financial Crisis Volume I

Foreword; Peter Praet 1. Money, Credit and the Flow of Funds in Monetary Policy; Bernhard Winkler, Ad van Riet and Peter Bull PART I: MONEY, CREDIT AND LIQUIDITY IN THE FLOW OF FUNDS 2. The Quantity Theory of Money and the Flow of Funds; Carmelo Salleo 3. The Quantity Theory of Credit and Some of its Policy Implications; Richard Werner 4. Euro Area Money Demand and International Portfolio Allocation; Roberto A. De Santis, Carlo A. Favero and Barbara Roffia 5. Global Liquidity and Credit Booms; Claudio Borio, Robert McCauley and Patrick McGuire 6. Dual Liquidity Crises; Ulrich Bindseil and Adalbert Winkler 7. Determinants and Consequences of Credit Tightening; Riccardo De Bonis, Luigi Infante and Francesco Paternò PART II: SECTORAL ANALYSIS OF THE FLOW OF FUNDS 8. Financial Intermediary Balance Sheet Management; Tobias Adrian and Hyun Song Shin 9. Bank Leverage and the Credit Cycle in the Euro Area; Celestino Gíron and Silvia Mongelluzzo 10. Households' Financial Portfolio Choices; S. Avouyi Dovi, Vladimir Borgy, Christian Pfister, Michael Scharnagl and Frank Sédillot 11. Household Balance Sheets and Debt; Jacob Isaksen, Paul Lassenius Kramp, Louise Funch Sørensen and Søren Vester Sørensen 12. Analysing Recent Developments in the Financing of Euro Area Non-Financial Corporations; Laurent Maurin 13. Monetary Policy and the Flow of Funds in the Euro Area; Riccardo Bonci